Sonos Inc (NASDAQ: SONO) has experienced a rise in its stock price by 0.22 compared to its previous closing price of 18.09. However, the company has seen a fall of -3.31% in its stock price over the last five trading days. InvestorPlace reported 2024-04-04 that While the innovation space seemingly lacks no shortage of interest, not every enterprise benefits from the spotlight, which brings us to tech stocks ready to rebound. Yes, there are indeed certain compelling tech plays that aren’t getting the attention they deserve.
Is It Worth Investing in Sonos Inc (NASDAQ: SONO) Right Now?
Moreover, the 36-month beta value for SONO is 1.99. Analysts have varying opinions on the stock, with 3 analysts rating it as a “buy,” 0 as “overweight,” 3 as “hold,” and 0 as “sell.”
The public float for SONO is 121.54M and currently, short sellers hold a 4.70% of that float. On April 10, 2024, SONO’s average trading volume was 2.14M shares.
SONO’s Market Performance
SONO’s stock has seen a -3.31% decrease for the week, with a -4.88% drop in the past month and a 8.69% gain in the past quarter. The volatility ratio for the week is 2.99%, and the volatility levels for the past 30 days are at 2.96% for Sonos Inc The simple moving average for the last 20 days is -3.48% for SONO’s stock, with a simple moving average of 17.45% for the last 200 days.
Analysts’ Opinion of SONO
Many brokerage firms have already submitted their reports for SONO stocks, with Morgan Stanley repeating the rating for SONO by listing it as a “Overweight.” The predicted price for SONO in the upcoming period, according to Morgan Stanley is $20 based on the research report published on December 12, 2023 of the previous year 2023.
BofA Securities, on the other hand, stated in their research note that they expect to see SONO reach a price target of $12, previously predicting the price at $20. The rating they have provided for SONO stocks is “Neutral” according to the report published on November 07th, 2023.
Rosenblatt gave a rating of “Buy” to SONO, setting the target price at $20 in the report published on September 20th of the previous year.
SONO Trading at -1.10% from the 50-Day Moving Average
After a stumble in the market that brought SONO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -17.52% of loss for the given period.
Volatility was left at 2.96%, however, over the last 30 days, the volatility rate increased by 2.99%, as shares sank -4.38% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.36% upper at present.
During the last 5 trading sessions, SONO fell by -3.31%, which changed the moving average for the period of 200-days by +15.04% in comparison to the 20-day moving average, which settled at $18.74. In addition, Sonos Inc saw 5.78% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SONO starting from Coles Joanna, who sale 905 shares at the price of $19.16 back on Apr 04 ’24. After this action, Coles Joanna now owns 23,664 shares of Sonos Inc, valued at $17,340 using the latest closing price.
Coles Joanna, the Director of Sonos Inc, sale 905 shares at $19.35 during a trade that took place back on Mar 04 ’24, which means that Coles Joanna is holding 13,913 shares at $17,512 based on the most recent closing price.
Stock Fundamentals for SONO
Current profitability levels for the company are sitting at:
- -0.02 for the present operating margin
- 0.45 for the gross margin
The net margin for Sonos Inc stands at -0.0. The total capital return value is set at -0.04. Equity return is now at value -0.74, with -0.39 for asset returns.
Based on Sonos Inc (SONO), the company’s capital structure generated 0.09 points at debt to capital in total, while cash flow to debt ratio is standing at 3.1. The debt to equity ratio resting at 0.1. The interest coverage ratio of the stock is -71.08.
Currently, EBITDA for the company is -20.55 million with net debt to EBITDA at -15.34. When we switch over and look at the enterprise to sales, we see a ratio of 1.15. The receivables turnover for the company is 19.74for trailing twelve months and the total asset turnover is 1.44. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.02.
Conclusion
To wrap up, the performance of Sonos Inc (SONO) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
